Planet Fitness (NYSE:PLNT) Sees Strong Trading Volume

Planet Fitness, Inc. (NYSE:PLNT) saw an uptick in trading volume on Thursday . 974,178 shares changed hands during trading, a decline of 42% from the previous session’s volume of 1,666,102 shares.The stock last traded at $65.44 and had previously closed at $61.85.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PLNT. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday. Morgan Stanley reissued an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a research report on Monday, April 1st. JPMorgan Chase & Co. dropped their price objective on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. DA Davidson reissued a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a report on Monday, February 5th. Finally, Stifel Nicolaus lowered their target price on Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.21.

Planet Fitness Price Performance

The business’s fifty day moving average price is $61.42 and its 200-day moving average price is $65.21. The stock has a market capitalization of $5.96 billion, a PE ratio of 40.78, a P/E/G ratio of 1.93 and a beta of 1.37.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The business had revenue of $285.10 million for the quarter, compared to analyst estimates of $282.35 million. During the same quarter in the prior year, the firm posted $0.53 EPS. Planet Fitness’s revenue was up 1.4% on a year-over-year basis. On average, analysts expect that Planet Fitness, Inc. will post 2.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Planet Fitness

Large investors have recently added to or reduced their stakes in the business. Allworth Financial LP raised its position in Planet Fitness by 247.6% during the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Planet Fitness during the 1st quarter valued at about $27,000. McGlone Suttner Wealth Management Inc. bought a new stake in Planet Fitness in the 4th quarter worth approximately $47,000. Asset Management One Co. Ltd. raised its stake in shares of Planet Fitness by 17.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after acquiring an additional 148 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in Planet Fitness by 24.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock worth $73,000 after purchasing an additional 197 shares during the period. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Company Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.